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Disability Question: Changing Specialty

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  • Disability Question: Changing Specialty

    Greetings all,
    I am going to be changing specialties this fall (accepted to Pain Management Fellowship), but will still be practicing part time ER until I graduate. I have an Individual disability policy that is specialty specific i.e. if I can't practice ER, it kicks in. My question is this: Do I need a new policy (I fear cost at my age - 49), or can I simply change the speciality with them? I do not want to ask them first as I simply have a hard time trusting after all I have been through in the past. Any advice or questions I need to research before I approach them?

  • #2
    A true own occupation long term disability policy actually covers any occupation. Your comp is based on your actual income earned in the last year.
    I mention this because your fellowship year will impact your coverage for two years, during and the year after. I do not think you need to change anything.

    Maybe Scott at MD Financial Services or another agent can chime in.


    • #3
      95% of all contracts state “unable to do the specialty that you were doing at the time of claim”. The specialty you were doing at the time of policy acquisition is there to price the product at the time of policy acquisition.
      Hope that helps.
      Scott Nelson-Archer, CLU, ChFC
      281-770-8080 Direct / [email protected]


      • #4
        Thank you, both. Thats a huge relief!


        • #5
          Read your policy. Scott said 95%.


          • #6
            Agree with Scott's post above. Look at the definitions of Disability and Own/Regular Occupations. When filing a disability claim, most True Own Occ policies apply coverage to the occupation you are engaged in at the time of disability, not at the time the policy was issued. Eg. "your occupation means the occupation (or occupations, if more than one) in which you are regularly engaged at the time you become disabled."
            Ethan F. Abramowitz, Esq. T: 215-735-4222
            E: [email protected]